Money News

Finance predictions for 2010 from moneysupermarket.com

Financial comparison website moneysupermarket.com has offered some of its predictions for what will happen next year in terms of personal finance.

Head of banking, Kevin Mountford, said he thinks there will be competition in the savings market in 2010, as more competitive fixed-rate products are launched.

New regulations will see big changes to the way people use their plastic, according to the company's credit cards expert Peter Harrison. Fewer zero per cent balance transfer deals will mean credit limits will be low and the credit on off will be limited.

The price of gas and electricity will be a big issue, especially as it is an election year, is the view of moneysupermarket.com's utilities manager Scott Byrom. The difference between the prices paid by those who get their tariffs online and those who get paper bills is predicted to widen.

The website also advised consumers to avoid paying overdraft charges in the new year by making sure they take out an authorised overdraft, after the Supreme court rules against stopping banks from charging for going overdrawn.